Digital voume controls affect the bits in the signal. When you lower the volume some data is lost. The linked presentation
http://www.esstech.com/PDF/digital-v...me-control.pdf describes in more detail. Digital volume control has always been a bit of an issue and there were lots of discussions about this on the Slim Devices/Logitech forum in the distant past. The issue of digital volume control was also raised earlier in the thread
but it turns out it is irrelevant because the Pi-DAC+ also has a hardware volume control using a rotary encoder, i.e. it is rather like a volume knob. I don't know much about the Pi-DAC+ implementation but it should mean that the hardware volume control just reduces the output amplitude in a similar way to lowering the volume on your amplifier.
However, the Pi-DAC+ does use a 32bit DAC chip so the impact of the digital volume should be much less than if you were using fewer bits (as indicated in the presentation).